Send to a Friend Share

Deutsche Bank Downgrades Marvell Technology (MRVL) to Hold

June 23, 2009 6:52 AM EDT
MRVL Hot Sheet
Rating Summary:
    14 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 16 | Down: 7 | New: 23
Deutsche Bank downgrades Marvell Technology (Nasdaq: MRVL) from Buy to Hold and maintains its $13 price target, citing valuation.

The firm said, "although we view MRVL as a core long-term holding, we believe further stock outperformance is likely to be limited given the YTD ~+75% absolute gain and the ~+30% gain since our initiation earlier this year. We expect the positive impacts from inventory replenishments and co specific cost cuts to be fully priced-in by the end of F2Q and expect the stock to perform in-line with the broader market in the near-term."

You May Also Be Interested In


Related Categories

Downgrades

Related Entities

Deutsche Bank

Add Your Comment





Follow StreetInsider.com On Twitter